Day: October 11, 2018

EOS, Tron, IOTA Rejection of Bears Positive for Altcoins

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A correction is underway in IOTA and TRX price charts following bull break out above important resistance levels a few days ago. Still, we retain a bullish outlook recommending buyers to buy on dips as long as prices are trading above key support levels. This is even applicable in Tron following their release of a developer suite. In the mean time, recent comments from Charlie have been viewed as negative deflating investor confidence. EOS Price Analysis The stability in lower time frames justifies the reasons why EOS is up seven…

Annual List of China’s Richest Includes Crypto Entrepreneurs

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The annual Hurun China Rich List, a catalogue of individuals in the country with a net worth over 2 billion yuan ($209 million), has listed several crypto entrepreneurs among China’s financial elite, according to a release published Oct. 10. The Hurun Research Institute released the 2018 Hurun China Rich List of the richest individuals in the country, with at least 13 entrepreneurs whose business is related to cryptocurrency mining and trading. The ranking includes such industry players as Micree Zhan Ketuan, co-founder of computer chip manufacturer of and software firm…

Bitcoin Whales Are Not Responsible for Volatility

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A new study by blockchain research firm Chainalysis shows that Bitcoin (BTC) whales are not responsible for price volatility. The study examined the 32 largest BTC wallets, which reportedly represent 1 million BTC, or around $6.3 billion. BTC whales are individuals or entities that own large amount of the cryptocurrency and are said to exert influence on the market volatility. However, Chainalysis’ data reveals that BTC whales are “a diverse group, and only about a third of them are active traders. And while these trading whales certainly have the capability…

Suspect in Thai Bitcoin Scam Unable to Return to Thailand Due to Passport Revocation

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The Foreign Ministry of Thailand has revoked the passport of an alleged crypto scammer, which has reportedly rendered him unable to return to his home country for prosecution, the Bangkok Post reports Wednesday, Oct. 10. According to the report, Prinya Jaravijit was in the U.S. after a cryptocurrency investment scheme surfaced in which he and several accomplices allegedly defrauded a Finnish investor of $24 million. The Crime Suppression Division’s (CSD) deputy commander Pol Col Chakrit Sawasdee claimed on Wednesday that the Foreign Ministry invalidated the passport of the prime suspect…